2026-10-25 04:43:01
General Motors Cancels Long-Term Rare-Earth Magnet Supply Deal with VAC on July 1, Upending $1.9B Energy Fuels Acquisition
According to Reuters, General Motors terminated its long-term supply agreement with e-VAC Magnetics, a U.S. subsidiary of German magnet manufacturer VAC, on July 1, 2026, forcing both parties into arbitration.
The cancellation threatens to undermine Energy Fuels' $1.9 billion acquisition of VAC